FJ Capital Management LLC
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 14, 2024), FJ Capital Management LLC reported 109 stock positions worth $956.5 million. Its top holding was Heritage Commerce (HTBK) at 5.4% of the portfolio, followed by Hometrust Bancshares (HTB, 5.4%) and Independent Bank (IBTX, 5.1%). Compared with Q1 2024, it opened 44 new positions, sold out of 33, added to 23 and reduced 26. The biggest buy was Heritage Commerce (HTBK, shares +42%) and the biggest sale Wintrust Financial (WTFC, shares −75%).
- Most Recent 13F
- Q2 2026
- Location
- MCLEAN, VA
- CIK
- 0001599170
- Portfolio Value
- $956.5M (Q2 2024)
- SEC Filing
- 0001420506-24-001546 ↗ filed Aug 14, 2024
Holdings Value
Holdings 109 stocks · $956.5M
| HTBK Heritage Commerce Corp. | 5.45% | 5,989,729 | $52.1M | Add +41.6% |
| HTB Hometrust Bancshares Inc. | 5.39% | 1,715,498 | $51.5M | Add +2.8% |
| IBTX Independent Bank Group Inc. | 5.14% | 1,079,442 | $49.1M | Reduce -6.0% |
| BANC Banc of California Inc. | 4.53% | 3,392,785 | $43.4M | Add +53.8% |
| WAL Western Alliance Bancorp | 4.06% | 618,088 | $38.8M | Add +4.7% |
| ABCB Ameris Bancorp | 3.78% | 717,495 | $36.1M | Reduce -0.3% |
| RBB RBB Bancorp | 3.47% | 1,765,953 | $33.2M | No change |
| FBMS First Bancshares Inc. | 3.46% | 1,274,405 | $33.1M | Reduce -16.3% |
| IBCP Independent Bank Corp. - Mich | 3.42% | 1,212,815 | $32.7M | Reduce -21.2% |
| EQBK Equity Bancshares Inc. Class A | 3.39% | 920,747 | $32.4M | No change |
| HBCP Home Bancorp Inc. | 3.30% | 788,106 | $31.5M | No change |
| EBC Eastern Bankshares Inc. | 2.89% | 1,976,341 | $27.6M | Add +8.2% |
| QCRH QCR Holdings Inc. | 2.71% | 431,241 | $25.9M | Reduce -11.1% |
| OSBC Old Second Bancorp Inc. | 2.70% | 1,741,181 | $25.8M | Reduce -23.9% |
| MSBI Midland States Bancorp Inc. | 2.59% | 1,094,323 | $24.8M | Reduce -16.2% |
| SFST Southern First Bancshares | 2.47% | 807,223 | $23.6M | No change |
| SMBC Southern Missouri Bancorp | 2.34% | 496,351 | $22.3M | Reduce -18.0% |
| SBT Sterling Bancorp Inc. | 2.31% | 4,231,615 | $22.1M | Add +0.9% |
| LNKB Linkbancorp Inc. | 2.01% | 3,144,666 | $19.2M | Add +1.9% |
| FVCB Fvcbankcorp Inc. | 1.92% | 1,677,339 | $18.3M | Add +16.0% |
| ESSA Essa Bancorp Inc. | 1.73% | 941,992 | $16.6M | No change |
| FSBC Five Star Bancorp | 1.62% | 654,756 | $15.5M | Add +36.4% |
| EVBN Evans Bancorp Inc. | 1.59% | 540,233 | $15.2M | No change |
| PBFS Pioneer Bancorp Inc. | 1.43% | 1,370,159 | $13.7M | Reduce -14.8% |
| MBIN Merchants Bancorp | 1.17% | 276,472 | $11.2M | New |
| VBTX Veritex Holdings Inc. | 1.17% | 529,907 | $11.2M | No change |
| CZWI Citizens Community Bancorp I | 1.15% | 951,594 | $11.0M | No change |
| HWBK Hawthorn Bancshares Inc. | 1.05% | 505,475 | $10.0M | Add +7.6% |
| HMNF HMN Financial Inc. | 1.01% | 423,904 | $9.7M | Add +49.5% |
| ONB Old National Bancorp | 0.91% | 507,465 | $8.7M | New |
| WTFC Wintrust Financial Corp. | 0.91% | 88,317 | $8.7M | Reduce -75.3% |
| RVSB Riverview Bancorp Inc. | 0.91% | 2,173,569 | $8.7M | No change |
| SFBC Sound Financial Bancorp Inc. | 0.90% | 203,574 | $8.6M | No change |
| PB Prosperity Bancshares Inc. | 0.87% | 135,686 | $8.3M | New |
| BCAL California Bancorp filed as SOUTHERN CALIF BANCORP | 0.76% | 542,252 | $7.3M | No change |
| CBSH Commerce Bancshares Inc. | 0.75% | 128,518 | $7.2M | New |
| FSFG First Savings Financial Grp | 0.73% | 394,472 | $7.0M | No change |
| FCCO First Community Corp. | 0.70% | 389,061 | $6.7M | New |
| MYFW First Western Financial Inc. | 0.60% | 336,833 | $5.7M | Reduce -8.8% |
| STEL Stellar Bancorp Inc. | 0.59% | 246,560 | $5.7M | No change |
| SBFG SB Financial Group Inc. filed as SB FINL GROUP INC | 0.55% | 373,521 | $5.2M | No change |
| SSB Southstate Bank Corp. | 0.52% | 65,184 | $5.0M | New |
| JMSB John Marshall Bancorp Inc. | 0.46% | 253,340 | $4.4M | Add +17.5% |
| UBFO United Security Bancshare | 0.46% | 606,434 | $4.4M | Reduce -1.4% |
| OPOF Old Point Financial Corp. | 0.43% | 278,673 | $4.1M | Reduce -22.6% |
| NLY Annaly Capital Management Inc. | 0.38% | 191,774 | $3.7M | New |
| PFSI Pennymac Financial Services | 0.38% | 37,987 | $3.6M | Add +40.0% |
| TMHC Taylor Morrison Home Corp. | 0.37% | 63,986 | $3.5M | Add +93.9% |
| JLL Jones Lang Lasalle Inc. | 0.33% | 15,568 | $3.2M | Add +14.4% |
| MOFG Midwestone Financial Group I | 0.32% | 136,086 | $3.1M | No change |
| BZH Beazer Homes USA Inc. | 0.31% | 106,213 | $2.9M | New |
| ACGL Arch Capital Group Ltd. | 0.29% | 27,497 | $2.8M | Add +39.6% |
| BRO Brown & Brown Inc. | 0.28% | 29,520 | $2.6M | Reduce -3.1% |
| AKR Acadia Realty Trust | 0.25% | 133,032 | $2.4M | Add +21.8% |
| WELL Welltower Inc. | 0.24% | 22,108 | $2.3M | Add +10.8% |
| KMPR Kemper Corp. | 0.24% | 38,682 | $2.3M | Add +22.3% |
| PGR Progressive Corp. | 0.24% | 11,026 | $2.3M | Reduce -14.0% |
| HCI Hci Group Inc. | 0.22% | 23,271 | $2.1M | Reduce -47.9% |
| BGC BGC Group Inc. Class A | 0.22% | 248,929 | $2.1M | New |
| GS Goldman Sachs Group Inc. | 0.21% | 4,546 | $2.1M | New |
| TSLX Sixth Street Specialty Lendi | 0.21% | 96,020 | $2.1M | Reduce -26.7% |
| ELV Elevance Health Inc. | 0.21% | 3,686 | $2.0M | Reduce -2.6% |
| ALL Allstate Corp. | 0.21% | 12,331 | $2.0M | Reduce -7.5% |
| IBKR Interactive Brokers Gro Class A | 0.20% | 15,809 | $1.9M | New |
| LADR Ladder Capital Corp.-REIT | 0.20% | 168,733 | $1.9M | Add +0.9% |
| GBDC Golub Capital BDC Inc. | 0.20% | 120,788 | $1.9M | New |
| SLM SLM Corp. | 0.19% | 89,270 | $1.9M | New |
| PECO Phillips Edison & Company Inc. | 0.19% | 56,674 | $1.9M | Add +16.4% |
| WTW Willis Towers Watson PLC | 0.19% | 6,922 | $1.8M | New |
| FBRT Franklin BSP Realty Trust Inc. | 0.19% | 141,626 | $1.8M | Reduce -22.5% |
| RGA Reinsurance Group of America | 0.18% | 8,427 | $1.7M | Reduce -64.4% |
| EPRT Essential Properties Realty | 0.18% | 61,079 | $1.7M | New |
| FOR Forestar Group Inc. | 0.17% | 51,446 | $1.6M | New |
| FDUS Fidus Investment Corp. | 0.17% | 82,266 | $1.6M | Reduce -20.9% |
| ABR Arbor Realty Trust Inc. | 0.15% | 99,753 | $1.4M | New |
| COMP Compass Inc. Class A | 0.15% | 390,528 | $1.4M | New |
| CBOE Cboe Global Markets Inc. | 0.15% | 8,172 | $1.4M | New |
| HOV Hovnanian Enterprises-A | 0.14% | 9,591 | $1.4M | Reduce -2.5% |
| EVER Everquote Inc. Class A | 0.14% | 65,094 | $1.4M | Add +83.1% |
| BCML Baycom Corp. | 0.14% | 64,836 | $1.3M | No change |
| SIGI Selective Insurance Group | 0.13% | 13,023 | $1.2M | New |
| EZPW Ezcorp Inc. Class A | 0.12% | 110,607 | $1.2M | New |
| HLNE Hamilton Lane Inc. Class A | 0.12% | 9,299 | $1.1M | New |
| EGP Eastgroup Properties Inc. | 0.11% | 6,204 | $1.1M | New |
| NMRK Newmark Group Inc. Class A | 0.11% | 102,996 | $1.1M | New |
| AMP Ameriprise Financial Inc. | 0.10% | 2,170 | $927K | New |
| PFS Provident Financial Services | 0.09% | 62,604 | $898K | New |
| OMF Onemain Holdings Inc. | 0.09% | 18,420 | $893K | New |
| CFG Citizens Financial Group | 0.09% | 24,600 | $886K | New |
| SHBI Shore Bancshares Inc. | 0.08% | 69,706 | $798K | Reduce -54.3% |
| AMG Affiliated Managers Group | 0.07% | 4,070 | $636K | New |
| CCAP Crescent Capital BDC Inc. | 0.07% | 33,675 | $632K | New |
| MKTX Marketaxess Holdings Inc. | 0.07% | 3,122 | $626K | New |
| ARES Ares Management Corp. Class A | 0.06% | 4,636 | $618K | New |
| BRK.B Berkshire Hathaway Inc. Class B | 0.06% | 1,518 | $618K | New |
| ESS Essex Property Trust Inc. | 0.06% | 2,126 | $579K | New |
| SPGI S&P Global Inc. | 0.06% | 1,185 | $529K | New |
| PSA Public Storage | 0.05% | 1,504 | $433K | New |
| GSHD Goosehead Insurance Inc. Class A | 0.04% | 7,108 | $408K | Reduce -53.6% |
| HFBL Home Federal Bancorp Inc. | 0.04% | 34,866 | $400K | Add +134.7% |
Portfolio Sells Q1 2024 → Q2 2024
| WTFC Wintrust Financial Corp. | Reduce -75.3% | 0.91% | −2.89 |
| CVLY Codorus Valley Bancorp Inc. | Sold out | 0.00% | −1.98 |
| BANR Banner Corporation | Sold out | 0.00% | −1.14 |
| PFC Premier Financial Corp. | Sold out | 0.00% | −0.84 |
| MSBI Midland States Bancorp Inc. | Reduce -16.2% | 2.59% | −0.75 |
| FBMS First Bancshares Inc. | Reduce -16.3% | 3.46% | −0.56 |
| IBCP Independent Bank Corp. - Mich | Reduce -21.2% | 3.42% | −0.55 |
| OSBC Old Second Bancorp Inc. | Reduce -23.9% | 2.70% | −0.53 |
| AGNC AGNC Investment Corp. | Sold out | 0.00% | −0.39 |
| SMBC Southern Missouri Bancorp | Reduce -18.0% | 2.34% | −0.35 |
| SSNC Ss&c Technologies Holdings | Sold out | 0.00% | −0.33 |
| HCI Hci Group Inc. | Reduce -47.9% | 0.22% | −0.30 |
| QCRH QCR Holdings Inc. | Reduce -11.1% | 2.71% | −0.29 |
| NMIH Nmi Holdings Inc. | Sold out | 0.00% | −0.29 |
| RGA Reinsurance Group of America | Reduce -64.4% | 0.18% | −0.28 |
| WD Walker & Dunlop Inc. | Sold out | 0.00% | −0.28 |
| COOP Mr Cooper Group Inc. | Sold out | 0.00% | −0.28 |
| OPOF Old Point Financial Corp. | Reduce -22.6% | 0.43% | −0.22 |
| MHO M/I Homes Inc. | Sold out | 0.00% | −0.21 |
| CSWC Capital Southwest Corp. | Sold out | 0.00% | −0.21 |
| MTH Meritage Homes Corp. | Sold out | 0.00% | −0.21 |
| STT State Street Corp. | Sold out | 0.00% | −0.20 |
| TRIN Trinity Capital Inc. | Sold out | 0.00% | −0.20 |
| IBTX Independent Bank Group Inc. | Reduce -6.0% | 5.14% | −0.20 |
| PBFS Pioneer Bancorp Inc. | Reduce -14.8% | 1.43% | −0.17 |
| PLD Prologis Inc. | Sold out | 0.00% | −0.17 |
| LAZ Lazard Inc. | Sold out | 0.00% | −0.17 |
| CWAN Clearwater Analytics HDS-A | Sold out | 0.00% | −0.16 |
| Z Zillow Group Inc. Class C | Sold out | 0.00% | −0.15 |
| CWBC Community West Bancshares | Sold out | 0.00% | −0.15 |
| HBAN Huntington Bancshares Inc. | Sold out | 0.00% | −0.15 |
| HTLF Heartland Financial USA Inc. | Sold out | 0.00% | −0.13 |
| CG The Carlyle Group Inc. | Sold out | 0.00% | −0.12 |
| UMBF Umb Financial Corp. | Sold out | 0.00% | −0.12 |
| EQIX Equinix Inc. | Sold out | 0.00% | −0.10 |
| SHBI Shore Bancshares Inc. | Reduce -54.3% | 0.08% | −0.10 |
| TFSL TFS Financial Corp. | Sold out | 0.00% | −0.08 |
| TSLX Sixth Street Specialty Lendi | Reduce -26.7% | 0.21% | −0.07 |
| FBRT Franklin BSP Realty Trust Inc. | Reduce -22.5% | 0.19% | −0.06 |
| GSHD Goosehead Insurance Inc. Class A | Reduce -53.6% | 0.04% | −0.06 |
| AIG American International Group | Sold out | 0.00% | −0.06 |
| OWL Blue Owl Capital Inc. | Sold out | 0.00% | −0.05 |
| COLD Americold Realty Trust Inc. | Sold out | 0.00% | −0.05 |
| FHN First Horizon Corp. | Sold out | 0.00% | −0.05 |
| SYF Synchrony Financial | Sold out | 0.00% | −0.05 |
| PK Park Hotels & Resorts Inc. | Sold out | 0.00% | −0.04 |
| SPNT Siriuspoint Ltd. | Sold out | 0.00% | −0.04 |
| FDUS Fidus Investment Corp. | Reduce -20.9% | 0.17% | −0.04 |
| CRBG Corebridge Financial Inc. | Sold out | 0.00% | −0.04 |
| PGY Pagaya Technologies Ltd. Class A | Sold out | 0.00% | −0.03 |
Portfolio Buys Q1 2024 → Q2 2024
| HTBK Heritage Commerce Corp. | Add +41.6% | 5.45% | +1.76 |
| MBIN Merchants Bancorp | New | 1.17% | +1.17 |
| BANC Banc of California Inc. | Add +53.8% | 4.53% | +1.12 |
| ONB Old National Bancorp | New | 0.91% | +0.91 |
| PB Prosperity Bancshares Inc. | New | 0.87% | +0.87 |
| CBSH Commerce Bancshares Inc. | New | 0.75% | +0.75 |
| HTB Hometrust Bancshares Inc. | Add +2.8% | 5.39% | +0.75 |
| FCCO First Community Corp. | New | 0.70% | +0.70 |
| SSB Southstate Bank Corp. | New | 0.52% | +0.52 |
| FSBC Five Star Bancorp | Add +36.4% | 1.62% | +0.52 |
| HMNF HMN Financial Inc. | Add +49.5% | 1.01% | +0.41 |
| NLY Annaly Capital Management Inc. | New | 0.38% | +0.38 |
| EBC Eastern Bankshares Inc. | Add +8.2% | 2.89% | +0.33 |
| BZH Beazer Homes USA Inc. | New | 0.31% | +0.31 |
| BGC BGC Group Inc. Class A | New | 0.22% | +0.22 |
| GS Goldman Sachs Group Inc. | New | 0.21% | +0.21 |
| WAL Western Alliance Bancorp | Add +4.7% | 4.06% | +0.20 |
| IBKR Interactive Brokers Gro Class A | New | 0.20% | +0.20 |
| GBDC Golub Capital BDC Inc. | New | 0.20% | +0.20 |
| SLM SLM Corp. | New | 0.19% | +0.19 |
| WTW Willis Towers Watson PLC | New | 0.19% | +0.19 |
| EPRT Essential Properties Realty | New | 0.18% | +0.18 |
| FOR Forestar Group Inc. | New | 0.17% | +0.17 |
| TMHC Taylor Morrison Home Corp. | Add +93.9% | 0.37% | +0.16 |
| ABR Arbor Realty Trust Inc. | New | 0.15% | +0.15 |
| COMP Compass Inc. Class A | New | 0.15% | +0.15 |
| CBOE Cboe Global Markets Inc. | New | 0.15% | +0.15 |
| SIGI Selective Insurance Group | New | 0.13% | +0.13 |
| PFSI Pennymac Financial Services | Add +40.0% | 0.38% | +0.12 |
| FVCB Fvcbankcorp Inc. | Add +16.0% | 1.92% | +0.12 |
| EZPW Ezcorp Inc. Class A | New | 0.12% | +0.12 |
| HLNE Hamilton Lane Inc. Class A | New | 0.12% | +0.12 |
| SBT Sterling Bancorp Inc. | Add +0.9% | 2.31% | +0.11 |
| EGP Eastgroup Properties Inc. | New | 0.11% | +0.11 |
| NMRK Newmark Group Inc. Class A | New | 0.11% | +0.11 |
| ACGL Arch Capital Group Ltd. | Add +39.6% | 0.29% | +0.10 |
| AMP Ameriprise Financial Inc. | New | 0.10% | +0.10 |
| PFS Provident Financial Services | New | 0.09% | +0.09 |
| OMF Onemain Holdings Inc. | New | 0.09% | +0.09 |
| CFG Citizens Financial Group | New | 0.09% | +0.09 |
| EVER Everquote Inc. Class A | Add +83.1% | 0.14% | +0.07 |
| HWBK Hawthorn Bancshares Inc. | Add +7.6% | 1.05% | +0.07 |
| JMSB John Marshall Bancorp Inc. | Add +17.5% | 0.46% | +0.07 |
| AMG Affiliated Managers Group | New | 0.07% | +0.07 |
| CCAP Crescent Capital BDC Inc. | New | 0.07% | +0.07 |
| MKTX Marketaxess Holdings Inc. | New | 0.07% | +0.07 |
| ARES Ares Management Corp. Class A | New | 0.06% | +0.06 |
| BRK.B Berkshire Hathaway Inc. Class B | New | 0.06% | +0.06 |
| JLL Jones Lang Lasalle Inc. | Add +14.4% | 0.33% | +0.06 |
| ESS Essex Property Trust Inc. | New | 0.06% | +0.06 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 120 | $770.4M | SFST, EQBK, NIC, SSB, BCAL |
| Q1 2026 | 126 | $888.1M | SSB, HTB, NIC, SFST, EQBK |
| Q4 2025 | 128 | $905.8M | SSB, HTB, EQBK, SBCF, SFST |
| Q3 2025 | 142 | $936.6M | HTB, SSB, EQBK, WBS, SBCF |
| Q2 2025 | 128 | $943.0M | HTB, SSB, EQBK, WAL, INDB |
| Q1 2025 | 111 | $966.2M | HTB, SSB, EQBK, ABCB, WAL |
| Q4 2024 | 111 | $861.8M | HTB, EQBK, RBB, SFST, OSBC |
| Q3 2024 | 120 | $954.3M | HTB, IBTX, EQBK, RBB, HTBK |
| Q2 2024 | 109 | $956.5M | HTBK, HTB, IBTX, BANC, WAL |
| Q1 2024 | 98 | $983.0M | IBTX, HTB, FBMS, IBCP, WAL |